Currency

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CURRENCY. The money which passes, at a fixed value, from hand to hand; money which is authorized by law.
2. By art. 1, s. 8, the Constitution of the United States authorizes congress "to coin money, and to regulate the value thereof." Changes in the currency ought not to be made but for the most urgent reason, as they unsettle commerce, both at home and abroad. Suppose Peter contracts to pay Paul one thousand dollars in six months-the dollar of a certain fineness of silver, weighing one hundred and twelve and a half grains-and afterwards, before the money becomes due, the value of the dollar is changed, and it weighs now but fifty-six and a quarter grains; will one thousand of the new dollars pay the old debt? Different opinion may be entertained, but it seems that such payment would be complete; because, 1. The creditor is bound to receive the public currency; and, 2. He is bound to receive it at its legal value. 6 Duverg. n. 174.

A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.

References in periodicals archive ?

Deposits in national currency, increasing by 6.9 percent (274 million manats) amounted to 4,246.3 million manats, and in foreign currency - 2,285.5 million manats (a 12.3 percent increase - 249.8 million manats).

Deposits of Azerbaijani population in banks increase

'The multiple currency rates and failure to organize the market is one of the important factors in devaluation of national currency over the years,' Mahmoud Ghasemi, a market analyst, told Anadolu Agency.

Sanction-hit Iran to slash zeros from falling currency

According to the order, any legal entity shall not store or possess a national currency that does not fit the size of its activity, up to a maximum of five million pounds.

President of the Republic Issues Emergency Order (6)

In our economy there are no misbalances that could put pressure on the national currency. Neither are there any signs that derailments from our set course are possible," said the National Bank.

NBRM: THERE ARE NO REASONS NOR NEED TO LAUNCH DEBATE ON DENAR DEPRECIATION

On Saturday, Turkish President Recep Tayyip Erdogan said that Ankara was preparing to switch to the national currency use with its largest trading partners, such as China, Russia, Iran and Ukraine, and was also ready for such a move in trade with the European Union.

Kremlin: Russia Seeks to Use National Currencies in Trade with Turkey

'President Buhari should ensure that a denomination of the national currency, the naira, bears the portrait of Chief Abiola in addition to the posthumous award of the nation`s highest honour, the GCFR.

Put MKO's portrait on national currency, Oredein, Abiola's campaign director tells Buhari

Download Tueni: National currency immune, taxes will not affect lowincome citizens NNA - State Minister for Anti-Corruption Nicola Tueni assured Sunday that the national currency is immune, adding that the imposed taxes will not affect low-income citizens.

Tueni: National currency immune, taxes will not affect lowincome citizens

In a surprise move last Wednesday, the cabinet voted to drop the rial and shift the national currency to the toman, making real what the public uses as their currency every day.

Cabinet votes to dump rial for toman

Bulgaria operates a fixed exchange rate mechanism called currency board, which curbs the conduct of independent monetary policy by the country's central bank and the pegs the national currency, the lev, at 1.95583 per euro.

Juncker Said to Be Planning Introduction of Euro by All EU Member States after Brexit

Summary: On 10 May 2016, NBG intervened for the 7th time on a purchasing side since Mar-16 and bought US$ 20mn aimed at curbing the appreciation of the national currency, which strengthened 7.9% against the US$ YTD.

GEORGIA: NBG BUYS US$ 20MN

For the last two years, traders have been using specially printed vouchers to buy and sell commodities, alongside the national currency, the Kenyan shilling.

A complementary way of doing business: alternative currencies are bringing prosperity to Kenyan communities